Gold fell as the dollar rose to a new one-week high after traders reduced bets on the Fed cutting interest rates more than once this year after hawkish Fed meeting minutes released early Thursday morning. The strong performance of U.S. initial filings and PMI data released on Thursday night further dampened expectations of a rate cut by the Federal Reserve. The dollar continued to rise and gold came under pressure again.
Today, gold is mainly short-selling at high levels, supplemented by long-selling at low levels. Focus on the 2350-2355 area at the top to enter with short orders, and focus on the 2325 area at the bottom for support.